St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-10-16

The activity with which the cable line
is now being pushed, indicates that it
will be completed sometime in the near
future if the weather is good. The eff
feet upon property along the streets
upon which it runs, and adjacent streets,
is likely to be very beneficial III the way
of advancing values.
A gentleman who has recently spent
several months in Kansas City, and who
is very we'll informed, predicts that the
increase in values will astonish every
body. He also says that the success of
the constructed line will be such as to
influence the company to hasten the
completion of other lines. In Kansas
City, as soon as one line was completed
and its success demonstrated, four 9th
ers were completed Immediately, and
electric and motor lines were soon run
ming in almost every direction. He
attributes the remarkable growth of
Kansas City more to the cable lines than
to any other one element.
~
During the past week there has been
an increased inquiry for business prop
erty, and also for suburban lots; in
other words, the market is reported all
around as improving very decidedly. 1t
is very steady and firm and holders APP
pear to be not only determined to hold
onto what they have, but to be able to
hold it. This market is fortunately free
from the boom element.
~
A gentleman who recently left st.
Paul to make his home i'll San Diego,
Cal, in writing back to his agent i'll st.
Paul says: three hundred real estate
men are just booming it the best they
know how, with four-hOrSe coaches and
brass bands, with glowing lights and
signs, parading the streets at night.
Auction sales and excursions are the Or
der of the day. Auctions are set for
this week in San Diego, and one on the
5th, at Otay city. All that | bought last
the prices are being raised monthly,
and they will sell at that very rapidly.
1t seems that San Deigo has big future
and bright prospects ahead of it,
This may be taken as an example of
genuine boom, and it can just as well
be said of many other points i'll Cali
fOur-horSe coaches, and wild auction
sales are the order of the day in Cali
fornia. When the real estate market in
any locality gets wrought up to this
pitch, so that prices are marked up
monthly, it is an example of a genuine
boom, and it is more to be feared than a
genuine panic.
This city has never witnessed any
thing of this character, and it is to be
hoped that it never will. Prices have
been solid and extremely conservative,
and continue to be so at the present
time. Based on past figures, property
is not above its fair value, and although
there may be time when the market
is quiet and when sales are not rapid,
those who have bought are not likely to
lose on their investment, but on the con-
trary to receive reasonable profits.
1t has been suggested that new thea
ter will be constructed shortly on the
southeast corner of Sixth and Cedar
streets. 1t is an admirable location and
the public-Spirited citizens of st. Paul
ought not to let this enterprise go beg
ging for subscriptions for the capital
stock. 1t will be near to the Ryan hotel
and is in the same block with the mag
nificent building now being erected by
the New York Life Insurance company,
and it is for all parts of the city.
Cedar street has on it already the
GLOBE building, the new court house
and city hall and the state capitol. If
it can secure new opera house, it will
CtIIdlIly Dt cutlllCu W NC CldSStN dS Ollo
of the leading streets in Importance and
value.
The Masonic organizations of st. Paul
have for long time contemplated the
erection of a Masonic temple, and it is
understood that the parties interested
have appointed committee to whom
the selection of a site has been en-
trusted and who are actively looking
fnr oh cn1n
and purchase corner and build upon
Cedar street, it certainly would be
another advance and make Cedar street
one of the very best in st. Paul. There
are vacant corners on Eighth and Ninth
streets where block of this kind might
be located to great advantage, and
would pay magnificent revenue.
The time is certainly not distant when
this street, from Third to the state capt.
tol, will be one of the very finest streets
running north and south in the city of
st. Paul, and we must look to see prop
erty in the near future almost double
the present prices.
~
Broadway is also attracting a good
deal of attention. The new building of
the railroad companies, owned or con-
trolled by the Manitoba and its tributary
roads, is now building its sixth story,
and is one of the most solid and sub
stantial buildings yet erected in this
city.
-
The Northern Pacific, at the corner of
Fourth and Broadway, is making con-
siderable improvements on its ground,
and, when the new bridge provided for
by the last legislature is approved by
the popular vote of the people at the
spring election next year, it will place
broadway in Importance along side of
jackson, Wabasha and Cedar streets.
The Condition Of the Market.
1t is agreed by all dealers that the
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